In the case of commodity stocks, on the other hand, thanks to Friday we can stock up again cheaply.
Once again excellent drilling results from Australia from Mawson Gold Limited (ISIN: CA5777891006 / TSX-V: MAW). It’s just amazing what this team of geologists can do. Regardless of whether drilling results from his project in Finland or from his project in Australia are presented, the results are always awesome!
This was also recently the case when the results of the additional diamond drill holes from the Sunday Creek project, which is 35 miles north of Melbourne, were recorded at hammer grades 3.3 g / t gold (Au) over 11.5 meters and 3.4 g / t Au over 4.2 meters. The deposit in the Victorian gold fields, which is 100% owned by the Canadian company, lives up to the name of its location and, above all, looks forward to more.
The new diamond drill holes at a glance!
The results from drill hole MDDSC005 provide grades of 3.4 g / t gold over 4.2 m from 88 m depth, 3.3 g / t gold over 11.5 m from 123.7 m depth including 52.6 g / t Au over 0.1 m from 123.7 m depth top values! But further high-grade anomalies were also found in the deeper “climes”, such as 17.9 g / t Au over 0.3 m from 128.2 m and 45.1 g / t Au over 0.3 m from 133 .5 m, which suggests high potential!
Source: Mawson Gold
The drilling was accompanied by testing of the parallel and down dip extensions of the historic ‘Apollo’ mine area. Here, too, visible gold was found within the quartz and stibnite veins – at depths of 88.7, 123.7, 128.2 and 130.9 meters. Without the use of a deeper cut, this mineralized zone was tested 1.3 g / t Au over 47.5 meters at a depth of 88 meters.
In turn, drill hole MDDSC004 intersected a low-grade gold mineralized zone between 44 and 104 meters in the area of the Golden ‘Dyke’ mine, 400 meters west-northwest of drill hole MDDSC005. The borehole crossed a previously unregistered mine gap between 71.4 and 78.6 meters, with a core loss of 5.2 meters and thus with great potential for further tests of the already mined zone in deeper areas.
Further ‘Sunday Creek’ results are awaiting publication
Mawson Gold will publish the results of the eleven holes from Sunday Creek over a length of approximately 1.5 km. The results of the drilling of the now completed first drilling phase of the ‘Redcastle’ project are also expected, where the drills used have done an excellent job with a total of 15 drill holes and a length of slightly more than 2.7 km and are now moving on towards’ Doctors Gully ‘project in the’ Whroo Goldfield ‘.
“It is with great pleasure and excitement that we will continue to work on the expansion of the 40 meter wide zone, both in depth and along the strike length. This interesting target area is just one of many others that need to be examined and expanded in more detail on ‘Sunday Creek’ “said Michael Hudson, President and CEO of Mawson Gold.
He even sees strong evidence in the latest drill results for a widespread gold-rich system on the Sunday Creek project that is sure to produce many more great results.
With the prospect of further success in the systematic exploration of its two silver and gold projects, sends Summa Silver Corp. (ISIN: CA86565E1051 / CSE: SSVR) In the person and voice of its CEO Galen McNamara, optimistic New Years greetings to his shareholders.
In his address to shareholders, McNamara gives a look back on the successful past year and above all gives exciting insights into the Summa Silver strategy and goals for the still young 2021.
Prosperous Hughes Property project
The focus of Summa Silver’s 2020 activities was undoubtedly the exploration of the ‘Hughes’ deposit in the precious metals-rich ‘Tonopah’ district in the state of Nevada. For this purpose, boreholes over 7,500 meters in 15 boreholes were initially planned, which, however, was successively expanded or almost doubled to ultimately 14,600 meters in 29 boreholes.
Source: Summa Silver
The highlights of the Hughes drill program at a glance:
- The discovery of high grade silver and gold mineralization in a total of four target areas over a 3.5 km trend.
- In the area around the historic ‘Belmont’ mine, Summa Silver encountered numerous well-mineralized as well as previously unexploited deposits.
- The ‘Ruby’ target discovery is likely a 1.3 km eastern extension of the ‘Tonopah’ district.
- The ‘Murra’ area hosts broad zones of mineralization which in all likelihood intersect the western boundary of the ‘Hughes’ up to the ‘Tonopah West’ deposit owned by Blackrock Gold Corp. is located.
- Samples from 14 drill holes, all of which intersected quartz and brecciated veins, are still pending analysis. All of this in turn is strong evidence of a major mineralized core with massive potential!
Option on Mogollon
In addition to expanding and successful exploration work on the Hughes project, Summa Silver also secured the option last year for a substantial portion of the historic Mogollon mine, typically located in Silver City, New Mexico. ‘Mogollon’ has been untouched or undrilled since the 1980s, with results from previous drilling indicating the outline of a target area in the old ‘Consolidated’ mine.
This target area extends over an area of 500 x 200 meters with a total of 8 drill holes which, according to previous reports, averaged 497 g / t silver (Ag) over 13.3 meters.
With a panoramic view of the Consolidated Mine target area, it can be seen that this area is only about 0.6 km of the total of 34 km of cumulative structure / vein length of the deposit. In context, the Consolidated Mine target area makes up less than 2% of the future target horizons of the deposit!
So will Summa Silvers in 2021
For the current year, Summa Silver’s CEO Galen McNamara is clearly setting the course for the further expansion of the drill program to ‘Hughes’ and ‘Mogollon’, in parallel with resource estimates for both projects. This two-pronged path should lead to further, significant added value for the Summa Silver shareholders in 2021.
The Hughes Deposit requires further drilling in the four defined target areas. Systematic ‘step out’ drilling is therefore also planned in the areas known to be mineralized. Also on the roadmap is a geological mapping and soil testing program for the wide and not yet adequately recorded zones of hydrothermal change in the northern and eastern sections of the deposit.
As far as the ‘Mogollon’ deposit is concerned, a comprehensive assessment of the mineral resources is to be carried out there through systematic grid drilling. Summa Silver expects the green light for this in the first quarter of 2021. Further plans for ‘Mogollon’ include the implementation of a geological mapping and soil testing program to help gain an even better understanding of the testing of silver and gold mineralization.
First successful year!
Even if one should believe that such a young company history does not allow such deep retrospectives, Summa Silver’s CEO Galen McNamara is already looking back on a successful year, even if it is actually the first:
“When we look back at the beginning of last year, we see that Summa Silver was little more than an ambitious idea. The fact that we can now look back on such a great success story after only one year is largely thanks to our shareholders, who are an important component of our past successes and will continue to be in the future! “
This year the added value for its shareholders will be further increased, which is not an ambitious goal due to the extensive geological expertise! In addition, Summa Silver has also been listed on the TSX Venture Exchange in Toronto under the symbol SSVR since Friday!
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